Churchill Downs said its board approved a new $500 million share repurchase programme, replacing the authorisation issued in March. The programme includes any authority left under the previous plan, has no time limit and may be suspended or ended at any time.
The plan sets the company’s available share-repurchase authority and leaves the timing of purchases to management.
Quarter ended 30 September 2026
The day’s most important stories, free. One email a day.
Revenue from historical horse racing machines in Kentucky rose 4.1% in September. Same-store growth was 2.6%, excluding the newer Marshall Yards casino, and overall gross reached $95m. Marshall Yards generated $1.4m, while Derby City remained the highest-grossing casino at $18.3m despite a 3.1% decline.
Analysts at Truist Securities, J.P. Morgan, Texas Capital Securities and Jefferies issued views on gambling markets and companies in September. J.P. Morgan’s Dan Politzer cited New York Gaming Commission data for the week to 13 September 2026, reporting online sports betting gross gaming revenue down 70% year on year and handle up 11%, with a 2.9% hold. The other notes covered Las Vegas, Inspired Entertainment and Churchill Downs.
J.P. Morgan analyst Daniel Politzer said gaming stocks fell 7% in August, while the S&P 500 rose 3%. He cited several possible factors, including the Iran conflict, higher rates and sector uncertainty; Churchill Downs gained 3%, while Penn Entertainment fell 17%.
Churchill Downs is reviewing strategic alternatives that could include selling Oxford Casino in Maine, according to local media reports. The company said it has not decided to sell any properties and gave no timeline for the review.
Gaming & Leisure Properties chief executive Peter Carlino said on the company’s 31 July second-quarter earnings call that regional gaming demand remained strong. GLPI executives said they had made no commitments to invest in infrastructure for Bally’s Las Vegas and were noncommittal about potential deals linked to other casino assets.